WA the nation's hands-down success story

Posted: March 13, 2012 at 11:12 am


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Conditions strengthened markedly in WA last month, despite the softening in mining activity. Source: PerthNow

The NAB survey showed that the gap between WA and the worst-performing sectors remains not far away from the biggest margin on record. Source: PerthNow

WA business conditions and confidence levels are bucking the national trend and are the highest in Australia - despite conditions weakening in the mining sector, according to NAB.

NABs monthly business survey, released today, revealed that WA remained the strongest state for overall business conditions and confidence in trend terms.

According to the survey, conditions across the country improved significantly in wholesale, and in transport and utilities in February, unwinding heavy falls in the previous month.

Surprisingly, conditions deteriorated modestly in mining and also in retail, the former lauded as the key driver of the national and state economies.

NAB chief economist Alan Olster provided insight and commentary on the survey results.

Conditions in the mining sector have been volatile, in line with recent gyrations in commodity prices, NAB said.

However, the survey also suggested that there are more indications that the expected surge in mining investment is on track, including the first ABS estimate of capital expectations for 2012-13.

Overall, business conditions were strongest in transport & utilities (+24), recreation & personal services (+19) and mining (+17), the survey stated.

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WA the nation's hands-down success story

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March 13th, 2012 at 11:12 am

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